Intention to launch partial tender offer for shares in East African Breweries PLC
14 October, London – Diageo, through its wholly-owned indirect subsidiary, Diageo Kenya Limited (“Diageo Kenya”), announces that it has served notice on East African Breweries PLC (“EABL”) of its intention to increase its equity stake in EABL up to 65% by means of a partial tender offer made to other shareholders of EABL. As at the date of this announcement , Diageo Kenya holds 50.03% of the issued share capital of EABL.
EABL, a public limited company incorporated under the laws of Kenya with registration number C. 5/34, is listed on the Main Investment Market Segment of the Nairobi Securities Exchange. Further information in relation to EABL is available on its website at www.eabl.com .
Subject to receipt of the relevant regulatory approvals, details of the proposed partial tender offer will be set out in a tender offer document, which will be made available to shareholders of EABL.
Diageo Kenya does not intend to make a takeover offer for EABL and will apply to the Capital Markets Authority in Kenya for an exemption from complying with the requirement to make a takeover offer.
A copy of this announcement is available at www.diageo.com/en/investors/investor-press-releases .
The announcement today, of the proposal outlined above, does not constitute the announcement of an offer and creates no obligation on Diageo and/or any Diageo subsidiary to make an offer. Accordingly, shareholders in EABL should await further communication from Diageo Kenya.